December 10, 2024 Latest Energy / Automotive News
London, December 10, 2024 (Oilandgaspress) –- 2024 is set to be the first full year where UK low-carbon renewables – wind, solar and hydropower – generate more electricity than fossil fuels, with wind power close to becoming the single largest source of UK power for the first time.
UK low-carbon renewable power will cross a significant threshold in 2024, overtaking fossil fuel generation for the first full year. 2024 saw the UK mark another significant milestone, closing its last coal power plant and joining a third of OECD nations now coal-free.
Across 2024 there has also been a large decrease in fossil gas power, helped by rising renewable energy, low electricity demand and cheaper power imports. Highlights
37% Low-carbon renewable share of UK electricity generation in 2024
35% Fossil share of UK electricity generation in 2024
29% UK wind share of UK electricity generation in 2024 Read More
INEOS, the day to day operator, of ‘Greensand Future’ and its partners, Harbour Energy, and Nordsøfonden has today announced the Final Investment Decision (FID) to safely and permanently store carbon dioxide from Danish emitters in a depleted oil field in the Danish North Sea.
With the aim of initiating storage operations into the INEOS-operated Nini field in the Danish North Sea at the end of 2025/early 2026, ‘Greensand Future’ will become the EU’s first operational CO2 storage facility intended to mitigate climate change. The FID paves the way for expected investments of more than $150m across the Greensand CCS value chain to scale storage capacity.
Sir Jim Ratcliffe Chairman of INEOS said “This is a breakthrough for Carbon Capture and Storage. Greensand Future will be the first CO2 storage facility in operation in the EU supporting both Danish and EU’s climate objectives.”
Greensand Future is a full industrial CCS value chain built on a scalable platform. This platform allows for the gradual expansion of storage capacity as CO2 volumes increase. It is directly applicable to other onshore and offshore storage projects, contributing to the much-needed global acceleration of CCS deployment.
Mads Gade, Head of Denmark, INEOS Energy said: “With Greensand Future and the establishment of the full value chain we are sending an important message to the Danish and European emitters currently considering large-scale capture projects, that it can be done.”
Greensand Future aims to safely capture and permanently store 400.000 tonnes of CO2 each year as a start allowing for the gradual expansion of storage capacity towards 2030 as CO2 volumes increase with a potential to store up to 8.000.000 tonnes of CO2 per annum.
The European Commission has estimated that the European Union will need to establish a carbon storage capacity of 250 million tonnes of CO2 per year by 2040 to achieve the objectives of the Paris Agreement. CCS is also considered a key technology in reaching the Danish 2045 net-zero targets.
The CO2 in the first phase of Greensand Future will be captured and liquified at Danish biomethane production plants, transported to the port of Esbjerg, and then shipped by Royal Wagenborg to the Nini field in the Danish North Sea for safe and permanent storage.
Last year, on March 8th, 2023, the INEOS-led pilot Project Greensand conducted the world’s first cross-border offshore CO2 storage intended to mitigate climate change as His Majesty King Frederik of Denmark officially initiated the first injection of CO2 into the Nini field during the pilot phase of Project Greensand.
Mads Gade, Head of Denmark, INEOS Energy says “Last year we were the first in the world to succeed in developing a value chain for safe and efficient capture, transport and storage of CO2 across national borders. Now we are proud to take the next step, building on the learnings from the pilot and aiming to deliver a fully operational commercial project by end 2025/early 2026”.
The results of Project Greensand have been verified by the independent and world-leading provider of risk, verification and standardisation services, DNV. The thorough technical verification ensures that the stored CO2 remains safely and permanently in the closed Nini West reservoir 1,800 metres below the North Sea seabed, as expected.
Mads Gade, Head of Denmark, INEOS Energy says “It is documented and independently verified that Greensand has a well-functioning storage, where large amounts of CO2 that would otherwise have been emitted into the atmosphere can be stored”. Read More
The 2024 Polestar Design Contest is all about dreams, with designers the world over challenged to design a car that isn’t concerned with realism, rules, or even available technology. This year we held our annual Design Contest in collaboration with the legendary brand, Hot Wheels. Craig Callum, Design Manager at Hot Wheels, talks to us about the competition, what stood out about the winning design, and just how hard it will be to build a Polestar Hot Wheels.
For over half a century, Hot Wheels has driven automotive performance and design; driving car culture for fans of all ages. At its core the company is about accepting challenges and pushing design limits to create authentic die-casts that reflect car culture. This fearless approach to design proved the perfect addition to this year’s contest.
Fundamentally, the Polestar Design Contest’s job is to find new design talent. But with the winning entry of this year’s competition being turned into a bona fide 1:64 die-cast collectible, the ‘Hot Wheels’ brief added a certain layer of complexity to the competition. “We were talking with Polestar, and wondered ‘what if the brief was to design a Polestar Hot Wheels car?’ What would that look like? What does it entail?” The two companies got talking about specifics, says Callum. “We had a lot of discussions about whether it should be this, that, hot rods, customs, that type of thing. Ultimately, we wanted people to think about the spirit and DNA of Hot Wheels, and how that could be applied to Polestar. That’s such a challenge in itself – we’re so different, and apply our identities differently.” Read More
With 4G (Polestar 2) and 5G (Polestar 3 and Polestar 4) internet coming as standard on Polestar cars, the infotainment system is constantly connected, giving access to the web (so your voice assistant can do his or her magic), as well as allowing high-quality audio and video streaming where the situation permits.
But think of the Polestar infotainment system as an extension of your digital world, with the ability to access the Google Play app store and download software that makes life on the road easier and a little bit more enjoyable.
Spotify, Tidal, and SoundCloud can take care of the music playlists, while Amazon Prime Video, YouTube, HBO Max and more allow for top quality video streaming when the vehicle is parked – perfect for killing time while waiting for a charge. What’s more, the system can also offer a selection of games and productivity enhancing apps, such as the Google Chrome web browser. Zoom has also recently launched on Android smartphones running Android Auto (available soon in Polestar 2), but will also be available natively on the Polestar system soon, making it simple to participate in important work calls or meetings when parked or on the move via hands-free calling. Read More
Bentley Americas proudly announces an extraordinary collaboration with Keith “Bang Bang” McCurdy, the globally celebrated tattoo artist, responsible for the most famous designs on the most iconic people in the world. His company, Bang Bang Tattoo in New York City, recently debuted the revolutionary and groundbreaking tattoo ink technology called Magic Ink. This technology allows the user to “turn on” and “turn off” their tattoos using specific wavelengths of light, allowing clients the ability to change the image in their skin.
The collaboration launches with a one-off art car debuted during Miami Art Week, with a unique UV-activated design that unites two pioneers of artistry, both renowned for transforming their clients’ visions into highly personal projects through the co-creation process.
Bang Bang, together with his 35+ artists spanning 15 countries, immortalizes each client’s stories through tattoos. The process is akin to that of Mulliner, Bentley’s in-house bespoke and coachbuilding division, which crafts one-of-a-kind vehicles that embody the passions and individuality of their owners. Read More
Together, the four cars represent the purest essence of innovation – showcasing not only the evolution of Bugatti machinery, but the expanding boundaries of engineering possibility and an ever-growing mastery of outright performance. The Veyron 16.4 Super Sport World Record Edition; Veyron 16.4 Grand Sport Vitesse World Record Edition; Chiron Super Sport 300+²; and now the W16 Mistral World Record Car – all have played a unique role in carving out their place, and Bugatti’s incomparable legacy, in the story of the automobile.
on a sunny day at the proving grounds of Ehra-Lessien in Germany, the stage was set for the Veyron 16.4 Super Sport World Record Edition to usher in a new decade of Bugatti creation with an unparalleled statement of intent.
For Bugatti’s first Pilote Officiel, Pierre-Henri Raphanel, it was a day to draw upon his rich expertise in motorsport and high-performance driving – assuming the controls of a unique vehicle imbued with the power of a modified, 1,200 PS version of the Veyron’s W16 engine. Featuring four enhanced turbochargers and larger intercoolers, the Veyron 16.4 Super Sport saw the Veyron’s chassis also comprehensively redesigned – prepared to cement its impact on the automotive world.
The momentous achievement of Bugatti’s world-leading engineers was made starkly clear with Pierre-Henri’s searingly fast world-record-breaking run, in which he reached an unprecedented 431.07 km/h. It was an accomplishment honored by bestowing the first five production Super Sports with their own special series – the World Record Editions – featuring the same configuration as the record-setting vehicle, and allowing Bugatti customers to experience the spirit of endeavor that created them. Read More
Lamborghini is proud to unveil a collaboration that merges the thrill of the slopes with the precision of its engineering. Together with CAPiTA Snowboards and Union Binding Company, the Sant’Agata-based super sports car manufacturer unveiled the CAPiTA Warpspeed | Automobili Lamborghini Snowboard and the Union Falcor | Automobili Lamborghini Snowboard Binding—crafted to inspire excellence and conquer limits. Debuting in preview at the Lamborghini Esperienza Neve in Yakeshi, Mongolia, these snow sports creations bring the company’s legacy of innovation and design to the world of snowboarding. With a limited global release of only 200 units, this collaboration is as exclusive as it is groundbreaking. At the intersection of precision engineering, innovation, and bold creativity, these new products represent the fusion of Automobili Lamborghini’s unparalleled heritage in performance and design, CAPiTA’s commitment to sustainable manufacturing, and Union’s relentless pursuit of performance-driven snowboard bindings. This collaboration channels Automobili Lamborghini’s legacy of relentless performance innovation into the snowboarding world. Engineered with a pure Megacarbon layup, the CAPiTA Warpspeed | Automobili Lamborghini snowboard delivers a featherlight, high-speed, all-mountain experience, allowing riders to dominate new terrain with unparalleled power and sophistication. Available in 154 cm, 157 cm, and 160 cm sizes, this limited-edition snowboard invites riders to conquer the slopes with Lamborghini’s signature precision. Read More
Nearly four decades ago, U.S. citizen Charlene Johnson was hired for a teaching role in the Netherlands. To celebrate, Johnson purchased her first new car, a 1987 Volkswagen Cabriolet through Volkswagen’s Tourist Automobile Shipping Program (TASP). At the time, this was a purchase option that allowed customers to purchase select Volkswagen vehicles in Europe, and then have them delivered to the U.S.—typically after touring Germany and neighboring countries. Johnson chose the compact and affordable Golf convertible with plans to ship it “home” after a teaching opportunity abroad. With her original program documentation in hand, Johnson contacted Volkswagen of America in hopes an exception could be made to help her and the 37-year-old Cabriolet to her family’s home in Montana. Her request caught the attention of a number of VWoA employees, in particular Director of Public Relations and Reputation, Mark Gillies. “It threw us for a loop,” said Gillies. “The program has been expired a long time. But when we read Ms. Johnson’s story and felt her love of our product, we decided to honor the program.”
Earlier this year, the Cabriolet arrived in Houston, Texas on a cargo vessel and was shipped to a Volkswagen dealership in Montana. Overjoyed for its arrival, Johnson and her daughter went to collect it. There was just one problem; the car would not start. “Come to find out, there was no gas. Put the gas in and it fired right up,” she said. “It’s been super reliable. And I think that’s just part of the Volkswagen brand. For me, the memories about the car, they’re really about the people and it was always part of those memories.” Read More
Stellantis N.V. intends to join the European Automobile Manufacturers Association (ACEA).
The European automotive industry is at a critical moment, with a deep transformation underway toward net-zero mobility, with new competitive forces and a fast-changing international environment. At this important juncture, Stellantis considers it important to dialog and develop a shared understanding of the stakes and ways to tackle them together. Stellantis believes ACEA is the right platform to do so.
Stellantis looks forward to engaging with other members of the association and unite behind a common approach, which will preserve the pursuit of the transition and the sustainability and competitiveness of the automotive industry and the best interests of its communities. Subject to the approval by the ACEA Board, the membership would become effective from January 1, 2025. Read More
Together with 30 other companies, Horisont Energi is joining a new industry coalition led by Madoqua Renewables to develop a robust green fuels and CO2 value chain connecting Portugal to Northern Europe and Norway. The forming of the coalition has today been formalized by the signing of a Memorandum of Understanding (MoU).
The coalition features global leaders like Cargill, Norwegian Cruise Line, Mitsui, Siemens, Thyssenkrupp, Kellogg Brown and other industrial and infrastructure partners, as well as financing partners like ING Bank in the Netherlands and MUFG Bank in Japan, and terminal and port partners in Portugal, Spain, Germany and the Netherlands connecting to Gismarvik CO2 hub as the terminal partner in Norway for intermediate storage and CO2 sequestration.
“It is essential to think in terms of entire value chains when planning and building new green industries and realizing the full potential of carbon management as part of the green transition. This coalition is an effort to establish a functioning large-scale CO2 management market, and we are glad to contribute as a CO2 infrastructure and sequestration partner. This is a recognition of our competence in this field and in the potential of our planned Gismarvik CO2 hub in a European context,” say Co-CEOs Bjørgulf Haukelidsæter Eidesen and Leiv Kallestad.
The coalition partners will promote collaboration to build an efficient supply chain for CO2 sequestration to the Netherlands and further on to Norway and for green hydrogen derivatives from Portugal to the Netherlands and Germany. Horisont Energi’s Gismarvik CO2 hub will be the final and only hub for CO2 sequestration and storage in this coalition and in this value chain.
“Energy transition is a journey, where partnerships are key to success. Our recent ports collaboration is designed to make this approach a reality. Developing new generation facilities focused on producing e-fuels is just one piece of the integrated green fuel corridor puzzle. A significant amount of existing port, bunkering services and transportation infrastructure must be either re-purposed, augmented or built to meet the upcoming demand for e-fuels from the shipping and end use industry”, says Marloes Ras, the CCO of Madoqua.
The agreement builds further on Horisont Energi’s partnership with ECOLOG to advance the Norway–Netherlands CO2 corridor, which was announced in November. The initiative aims to strengthen connections within Europe’s CO2 infrastructure and support cross-border decarbonization efforts. Earlier this year, the governments of Norway and the Netherlands signed a Cross-Border Transport Memorandum of Understanding to unite CO2 stakeholders, assess feasibility, and advance a CO2 Corridor with defined milestones and timelines.
The Gismarvik CO2 hub project is one of the largest CO2 hubs planned in Europe with an annual capacity for intermediate storage of 24 million tonnes. Read More
TotalEnergies finalized today the acquisition of the interests of OMV (50%) and Sapura Upstream Assets (50%) in SapuraOMV Upstream (SapuraOMV), an independent gas producer in Malaisia.
SapuraOMV’s main assets are its 40% operated interest in block SK408 and 30% operated interest in block SK310, both located offshore Sarawak in Malaysia. In 2024, SapuraOMV’s operated production (100%), supported by the start-up of the Jerun gas field in July, is expected to reach approximately 590 Mcf/d of natural gas, feeding the Bintulu LNG plant operated by Petronas, as well as 10 kb/d of condensates. The assets have production costs (ASC932) below 5 $/boe and an overall emission intensity below 10 kg CO2e/boe. Read more
(Reuters) – BP’s head of offshore wind Matthias Bausenwein is leaving the company, a spokesperson told Reuters on Monday, after the oil major announced it was spinning off its offshore wind operations into a joint venture with Japanese power firm JERA. Bausenwein joined BP from Danish renewables giant Orsted in August 2022 to lead the British company’s build-up of offshore wind projects. Read More
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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